Envestnet Portfolio Solutions Inc. Trims Stock Holdings in Pinnacle West Capital Co. (NYSE:PNW)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 19.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,040 shares of the utilities provider’s stock after selling 1,251 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Pinnacle West Capital were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PNW. Charles Schwab Investment Management Inc. grew its stake in shares of Pinnacle West Capital by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,028,088 shares of the utilities provider’s stock valued at $91,078,000 after buying an additional 5,066 shares in the last quarter. Larson Financial Group LLC grew its position in Pinnacle West Capital by 285.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,502 shares of the utilities provider’s stock valued at $399,000 after acquiring an additional 3,333 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Pinnacle West Capital by 14.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,238 shares of the utilities provider’s stock valued at $464,000 after acquiring an additional 672 shares in the last quarter. DRW Securities LLC purchased a new stake in Pinnacle West Capital during the third quarter worth about $420,000. Finally, Bank of Montreal Can lifted its position in shares of Pinnacle West Capital by 21.7% during the third quarter. Bank of Montreal Can now owns 247,548 shares of the utilities provider’s stock worth $21,851,000 after purchasing an additional 44,158 shares in the last quarter. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle West Capital Trading Up 1.5 %

PNW opened at $92.90 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.54 and a current ratio of 0.71. Pinnacle West Capital Co. has a one year low of $70.73 and a one year high of $95.42. The company has a market cap of $11.06 billion, a P/E ratio of 17.59, a PEG ratio of 3.59 and a beta of 0.53. The business’s 50-day simple moving average is $90.00 and its 200-day simple moving average is $88.91.

Pinnacle West Capital (NYSE:PNW) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.25. Pinnacle West Capital had a net margin of 12.26% and a return on equity of 9.60%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, equities research analysts expect that Pinnacle West Capital Co. will post 5.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PNW. Jefferies Financial Group cut their target price on shares of Pinnacle West Capital from $106.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. LADENBURG THALM/SH SH raised Pinnacle West Capital to a “strong-buy” rating in a research report on Monday, March 17th. Guggenheim reiterated a “buy” rating and issued a $100.00 price objective on shares of Pinnacle West Capital in a research note on Wednesday, February 26th. KeyCorp raised Pinnacle West Capital from a “sector weight” rating to an “overweight” rating and set a $101.00 target price for the company in a research note on Wednesday, December 4th. Finally, Citigroup increased their price target on Pinnacle West Capital from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.17.

About Pinnacle West Capital

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.